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You just won a lottery that will pay you $2,500 a year for twenty years. You will receive your first payment today. If you can
You just won a lottery that will pay you $2,500 a year for twenty years. You will receive your first payment today. If you can earn 8 percent on your money, what are your winnings worth to you today?(Note that since you will receive your first payment today, it is an annuity due problem).
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